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theres no more homepath financing??

since last year I have been planning on checking out Fannie reo's but now the mortgage option is gone? how does the financing work now. by truwell.220001453 from Quincy, Washington. Nov 17th 2014 Reply


Curt Tiedeman (curttiedeman)
#46 ranked lender in Washington - 28 contributions

We were all disappointed that HomePath went away. Your options is dependent on the condition of the property and how much down payment you have available.If the home is in good shape and would pass an appraisal, then your have lots of financing options. If the home needs work then you would be looking at an FHA or Fannie Mae Rehab loan.You still have great options, so let me know how I can help!

Nov 17th 2014
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Stephanie Tourtellotte (Stephanie Tourtellotte)
#0 ranked lender in California - 33 contributions

There are plenty of financing options we can provide. For Homes in need of repair we offer the following:Homestyle Renovation:The HomeStyle Renovation mortgage enables a borrower to obtain a purchase transaction mortgage or a limited cash-out refinance mortgage and receive funds to cover the costs of repairs, remodeling, renovations or energy efficient improvements to the property.There are no required improvements or restrictions on the types of repairs allowed or a minimum dollar amount for the repairs. Repairs or improvement, however, must be permanently affixed to the real property and add value to the property.FHA 203KThis is one of the most popular and diverse loans. You can make home improvements to the house you want, or the home you already own. Use the funds for simple upgrades to your home like a kitchen or bath improvement, or to completely reconstruct a home that is presently unlivable. You can even use a 203k Rehabilitation Loan to tear down an existing structure and build a new one using some portion of the existing foundation. You can borrow up to 96.5% of the appraised value based on the value when the improvements or repairs are completed.Besides these above we still have other low down payment options:ConventionalFHAVAUSDA ( possible no down payment option)If you are interested in any of our financing options please contact me!

Nov 17th 2014
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Dave Skow (daveskow)
#16 ranked lender in Washington - 142 contributions

11/17/2014Truwell- thanks for the question ....Homepath financing did indeed change a month ago ...are you considering purchasing a property for a primary residence or for a rental property ?....I can be reached at either daveskow@eaglehm.com or cell 206 714 9745...thanks ...Dave Skow

Nov 17th 2014
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Homepath has gone away... Homepath wasn't all that special for most people anyway. The good news is that there are plenty of other programs to fit most peoples needs. Contact a mortgage broker in your area. Give them a full application, and let them zero in on what loan options are best for you. Lending in MN, WI, and SD - www.Minneapolis-Mortgage.net

Nov 18th 2014
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